Fuel prices hitting an eight year high

[CryptocurencyKing]

~snipe~

What else do the world expect with the price of one of Elon Musks toys from Tesla being so high and the facilities needed to ensure the workability of the whole system as per consistent and energy refilling still in the labs of Tesla in contrast to the continual rapid production of petrol driven cars and an ever rising demands.
Now, even kids I've got a tast and resources to afford one of these toys, the world is preaching diminishing of crude reserves and most part of the world needs it hor not just a source of energy but then, as a major source to there nations economy. The price is just to skyrocket as some point with these demands and constraints in place.

[Argoo]

I also read that the rise in fuel prices is coming from the producers being unwilling to increase their production output. For oil producers in the middle east it would be easy to just ramp up production but of course they are not interested. We shouldn't forget that fuel was very cheap over the last 10 years and especially with the pandemic we saw a big drop in demand. The lockdown prevented people from travelling and industrial production also dropped because companies were laying off workers. In the end the oil companies now are very happy with higher prices and will likely not trying to produce more to lower them any time soon. Its all about making more money for them.

Due to the pandemic, fuel prices have recently dropped to a minimum, and now, for the same reason, they have skyrocketed again. I don't see much logic. At the same time, alternative energy sources, and especially solar energy from solar panels, are relatively cheap and environmentally friendly. The problem still exists in the disposal of waste, however, this problem has been solved recently.
If the production of energy from alternative sources is growing very slowly, then these states are not too interested in such energy. There are also forces that lobby for the interests of the use of oil and gas and they pay government officials a lot of money so that changes are not implemented or it happens at a very slow pace.

[DrBeer]

Several reasons can be added for the fuel price increase.

• Very basic is the shortage of gas around the world.
• In several parts of gas reserves were under maintenance as a result of continued lockdown. This has caused decrease in the outcome for supply
• The consumption have increased and gas for energy generation is used much as the energy generation through wind isn't that effective in this season
• The lack of supply caused demand. This wholesale price increase have reflected on the overall price of the gas for consumers
• Today it was Congo that has got added to the list of Gas Shortage country
• Making use of other forms of energy is the only way through which the price can come into control.

1. There is enough gas. The only problem is the attempts of gas blackmail by the Russian Federation towards the EU. And they don't even hide the reason - "allow us our Nord Stream 2, in violation of European legislation - we critically need a monopoly right to supply gas to the EU"
2. Can I have an example?
3. Consumption in the world, I agree, has increased against the background of the most severe lockdown. BUT ! Demand has not become HIGHER in volume than before COVID19, and gas production has barely changed
4. The proposal was violated only in the EU, and only by one monopoly supplier
5. And what - in the Congo, is there any noticeable, on a global scale, the need for gas? The main industry there is the extraction of natural resources and precious metals, as well as wood and coffee. Which of the following areas of the economy suffers without gas?
6. Gas is sufficient, and the price can be regulated by the market where there are no monopolists and the personal gain of some politicians. An example of Moldova is the Kremlin's gas blackmail. Do you know why, unexpectedly, there was no gas for Moldova, and the price soared to $ 1,000? Because for Russia, Moldova's plans to implement joint reforms with the EU are dangerous, in particular, the liberalization of the gas market. This violates the plans of the Kremlin terrorists to monopolize the European gas market. Total - Moldova did not go to blackmail Russia, and forced the Kremlin to play by the rules of Moldova! Learn from a small but proud and smart country!

[stompix]

Yes, I want to warn you right away - it is stupid to lie now, information is available, and you can check any "invented fact".
~
So what is "cancer rate increased from 5 to 10 per million"? What kind of cancer?
~
In children, thyroid cancer is very rare, with 1 in a million children. But in children who were in the infected zone, the numbers are much higher. From 1975 to 1985, up to 70 cases of thyroid cancer were detected, and from 1986 to 1990, 7 thousand cases were detected.

Also, add a figure of thyroid cancer cases from 1940 and 1920, that would be a better indicator!
Here is a complete study for those numbers, stop searching on Wikipedia for them.
https://www.unscear.org/docs/publications/2017/Chernobyl_WP_2017.pdf

This is not the first time you are trying to be clever about oncology and cancer, but you yourself write on this topic as a person who does not know anything about it.  So, I’ll digress, but I’ll make it clear to you - oncology is a branch of medicine that studies benign and malignant neoplasms. Cancer is one of the areas of cancer associated with malignant neoplasms. I am talking about this, since this "vector" is the most dangerous and deadly.

Looool, how about you stop trying to talk about things you don't have a clue about?
Cancer is one of the areas of cancer? 
Do you actually read what you write here?
So cancer is associated with malignant neoplasms? No shit sherlock! What's next, telling us that dental cavities are associated with teeth?
Seriously, stop trying to copy-paste stuff you don't understand from Wikipedia and stop acting as you have even cared or researched this prior to yesterday.

Again, based on the numbers you have produced we have 7000 cases over a 5 years period.
Meanwhile, we have 3 million poeple in Europe alone who can't afford heating and 15 000 deaths are caused by this each year.
https://www.euronews.com/2021/09/22/nearly-three-million-european-union-workers-can-t-afford-heating-says-trade-body

4. The proposal was violated only in the EU, and only by one monopoly supplier

One monopoly....you went from neoplasms to pleonasms.
This definitely wasn't your best weeks around here.

[AicecreaME]

Fuel prices have skyrocketed in the past few months, on a worldwide scale. Here in Greece, the average price per liter for 95 Unleaded petrol is €1.75, while for diesel it's approximately €1.45. A huge surge is also expected, in the soon-to-be launched season of heating gas oil, which is expected to start within the next few weeks, with a rumored price of at least €1.10/liter.

I've read that this spike in prices is triggered by an increase in price per barrel, due to oil companies worrying about the pandemic, while their production is limited compared to the higher demand. Have you heard anything relative? What's causing this surge in prices, could it be a one-off thing which lasts a couple of months at most?

What's the average cost of petrol/diesel in your country? Share your thoughts on what exactly is causing this crisis, which is also spiking electricity costs up, increasing the budget for the average household.

Sources:
https://www.bruegel.org/2021/09/is-europes-gas-and-electricity-price-surge-a-one-off/
https://www.bbc.com/news/business-58718148

This pandemic became the biggest challenge in the fuel industry most especially during the early year it has been on. During the first year of the crisis, the fuel industry didn't have much profit because of limited travels due to restrictions as a safety protocol. Hence, the fuels were just stocked up. When we apply the law of supply and demand, during that time, the demand was very little and the supply is high, giving a cheap price to fuels.

However, as of today, the operations are almost already back to normal. The transportation and travel restrictions are at ease now. The high demand for fuel is back and the fuel industry definitely wants that. Now, what they are doing is just maintaining the production and not really increasing it to spike the price as well. Since they have to make profits and gain back what they have lost during the darkest times since the pandemic started.

Market volatility really plays a great role. Aside from this, we all  know that fossil fuel is really expensive because of the fact that it is made out of a non-renewable source and also because of the processes it undergo. Fuels made out of renewable resources are a lot more cheaper than the usual fossil fuel. You can try it if you want to lessen your spendings. However, i think it isn't widely available to most areas of each countries around the globe.

[Ucy]

Making use of other forms of energy is the only way through which the price can come into control.

Ofcourse, but if the alternatives are not local and abundant in supply, high demand could still cause their prices to increase.
I think focusing more on local energy sources that individuals could easily produce themselves can help in reducing the current and future price increase. That's part of the solution actually

[DrBeer]

....

I read this report, of course. Want to sound smart again? Well ok, let's prove the opposite again, if you like it

1. Research concerned ONLY research on cancer (or malignant neoplasms) of the thyroid gland. This disease is directly related to damage by iodine isotopes. For general development, it is a short-lived isotope. Accordingly, the impact was not long-lasting, although quite strong. This is just one of the groups of victims whose manifestations began later. The splash shows it. There is a question to this report - from what sources were the data on the defeat of the population taken, from the infected areas, if in the USSR all this information was always hidden, or distorted. Let me remind you that the USSR was a very disgusting state, in Kiev, after the Chernobyl disaster, when radioactive ash was imperceptibly falling on the city, the state forced everyone to go to a mass demonstration dedicated to May 1 .... Well, ok. They took it somewhere, the statistics of the lesion is there, the growth of the disease is visible. The decline is characterized by a "short" period of the life of the isotope of iodine, and, accordingly, a limited time of injury.

2. The accident also resulted in: the release into the environment of radioactive substances, including isotopes of uranium, plutonium, iodine-131 (half-life - 8 days, discussed above), cesium-134 (half-life - 2 years), cesium-137 (half-life - 30 years), strontium-90 (half-life - 28.8 years).
But these "gifts", irradiated people for a longer time. Is there a report about this somewhere? Although I’ll be honest, don’t.
A noticeable, systemic growth, of various kinds of oncological diseases, in the population of Ukraine (I will not say about other countries, I have not studied, I do not have information), is quite noticeable. For example, breast cancer is a surge in a decade and a half, after an accident - an increase of 2-4 times.
Melanoma of the skin - growth after the accident 25% -45%
Continue ? There is also lung cancer, brain cancer, ... This is all also with an increase in manifestations.

3. And a little about chemistry. We have heard about iodine. What can you say about Cesium-137? In short, a quiet, inconspicuous killer. This isotope affects quite large areas to this day. Half-life is 30 years. So, until 2016, he was slowly killing people, giving rise to new foci of malignant neoplasms in them.
If we return to the topic, then, frankly speaking, it makes no difference to me, and I will be against any pollution, be it the consequences of burning coal, be it the risks of nuclear energy, everything is bad, everything kills. But trying to "blur" the eyes and prove the "safety" of nuclear energy will not work, there are facts confirming the danger, especially in the modern world. I repeat once again - it is extremely stupid to try to choose "the best of two piles of shit", in the end, whatever you choose, there will be shit. So it is here - both options are dangerous, and there is no need to hush up and pretend that the "shit" atomic is better

Ah .. well, yes, what is the life of people dying of cancer, if someone is cold in Europe !?

PS "One monopoly....you went from neoplasms to pleonasms.This definitely wasn't your best weeks around here." - Sorry, but the question is - do you have some kind of complexes? Do you want to show off your mind at every opportunity? No, it doesn't work!

[stompix]

I read this report, of course. Want to sound smart again? Well ok, let's prove the opposite again, if you like it -

Rather than copy-pasting and rephrasing whole lines from Wikipedia which might get into trouble let's stick with the basics, the only part of your post that was genuinely written by you and not research made at the last minute:

Cancer is one of the areas of cancer associated with malignant neoplasms

So, can you explain how cancer is one of the areas of cancer? 
Please enlighten us, Doc!

Meanwhile, I have some bad news for you and your eco-terrorist friends.
Not only will Romania complete its two nuclear reactors but it will also build 12 mini reactors with NuScale.

Poeple are starting to understand that there is only one scalable source of energy that can generate power 24/7 at low costs.
One winter with thousands dying from cold and the 50 cents per kWh and I have a feeling Germany will take on China's lead about coal pretty soon. Oh wait...

[RealMalatesta]

This pandemic became the biggest challenge in the fuel industry most especially during the early year it has been on. During the first year of the crisis, the fuel industry didn't have much profit because of limited travels due to restrictions as a safety protocol. Hence, the fuels were just stocked up. When we apply the law of supply and demand, during that time, the demand was very little and the supply is high, giving a cheap price to fuels.

It was expected for the fuel industry to get back to normal. After all we are talking about something that is basically just a situation where there is a huge demand which makes it worthy to make it work and then supply will reach anyway. If there is a money to be made at something then people will do it, everyone keeps doing it and that is called business. If there is so much fuel need in the world, even with pandemic causing such a big break and problem for them, eventually oil industry worked on it and cover all that need.

[Lordshiva]

Oh well i thought this problem is happening in my country only , since last year the fuel price has gone up about 40% in my country and it has resulted in increase in fare of all transports and every thing, and once i used to fill 3$ fuel in my bike and that lasts for days, but now in 3$ today it may last for only 2 days for me.

[mich]

Gas prices in my country are now $1.5 per Liter which is the highest since December, 2024.
I am taking a lot of public transportation these days especially when going into the city.

[The Sceptical Chymist]

Due to the pandemic, fuel prices have recently dropped to a minimum, and now, for the same reason, they have skyrocketed again. I don't see much logic.

Fuel was pretty low before COVID came along if I'm not mistaken, or at least gasoline was nowhere near as expensive as it is right now.  At my local gas station, the price is $3.56/gallon and I haven't seen it that high in a long time.  As far as there being logic to it, I'm not sure that's always involved in determining what a barrel of oil goes for--and the same goes for stocks, crypto, and nearly every asset class for which there's a market.  There could be politics involved, it could be the effect of inflation, it could be anything that's driving prices up.

But I think the most likely explanation is, in fact, inflation.  I'm seeing it everywhere, so why should oil/gas prices be exempt from it?  I'm hoping we don't see gas prices near $5/gallon like we did in the 2000s.  That was pretty rough, but that was before 2008 when (I think) the recession started after the housing market crashed and the banking crisis happened.

[DrBeer]

....

From the dialogue with you, I saw:
1. You really want to make a scandal
2. Having no other options to prove your advantage - you try to cling to someone else's typo, and return to it 100500 times
3. Hinting that you are an unsurpassed bearer of information and will never turn to open sources. Others, of course, don't know anything and copy everything from the Internet
 
I see no reason to continue the dialogue with such an "amazing character". I will no longer help you realize your complexes ... You can write, not write, I don't care, I'll just ignore
Good luck, do not freeze, wear warm socks and a hat with earflaps, more nuclear energy in your life, which of course does not affect your health

[xSkylarx]

Gas prices in my country are now $1.5 per Liter which is the highest since December, 2024.
I am taking a lot of public transportation these days especially when going into the city.

Exactly the same price! Wew! unable to take now; I intend to commute instead; however, the cost of living continues to rise. Previously, I was driving aggressively and not caring about the fuel economy, but now I am mostly driving in eco mode just to save gas! Every day, the price of fuel, food, and other essentials rises, making our lives more difficult. As they have stated, the cost of food and other necessities is rising steadily, while our pay is decreasing steadily.

[FanEagle]

Fuel was pretty low before COVID came along if I'm not mistaken, or at least gasoline was nowhere near as expensive as it is right now.  At my local gas station, the price is $3.56/gallon and I haven't seen it that high in a long time.  As far as there being logic to it, I'm not sure that's always involved in determining what a barrel of oil goes for--and the same goes for stocks, crypto, and nearly every asset class for which there's a market.  There could be politics involved, it could be the effect of inflation, it could be anything that's driving prices up.

But I think the most likely explanation is, in fact, inflation.  I'm seeing it everywhere, so why should oil/gas prices be exempt from it?  I'm hoping we don't see gas prices near $5/gallon like we did in the 2000s.  That was pretty rough, but that was before 2008 when (I think) the recession started after the housing market crashed and the banking crisis happened.

It is supply/demand most of the time. Even in stocks that is the case, which we all know it is the case for crypto as well. As long as there is more demand and less supply than the price usually goes up. If government gets in and tries to drop the price or at least limit the price than companies who get it will not be able to profit, they will make a loss and they will close shop which will be even bigger problem.

It means that right now we are seeing a lot of problem with fuel prices because there is a lot more demand right now. World is trying to overcome this pandemic period and go back to regular times, but there were such a big breaks during that period that it caused some stuff to be postponed and right now there are more than usual usage right now, even compared to pre-pandemic period. It will go back into regular prices after all of this is done.

[Sithara007]

Gas prices in my country are now $1.5 per Liter which is the highest since December, 2024.
I am taking a lot of public transportation these days especially when going into the city.

Exactly the same price! Wew! unable to take now; I intend to commute instead; however, the cost of living continues to rise. Previously, I was driving aggressively and not caring about the fuel economy, but now I am mostly driving in eco mode just to save gas! Every day, the price of fuel, food, and other essentials rises, making our lives more difficult. As they have stated, the cost of food and other necessities is rising steadily, while our pay is decreasing steadily.

Where I am living the prices have touched $1.55 per liter. But here in India, the prices vary from state to state. In some of the states, gasoline prices are as low as $1.25 per liter. But where I am living, the state taxes are too high, and as a result the rate is comparatively higher. Anyway India imports more than 80% of the oil, so I can't really blame the government for taking steps to discourage the usage. The economic downturn from COVID 19 is also there, and as a result they can't afford to lower the tax rates.

[aysg76]

The rising inflation has hit everything hard and the petrol price crisis is the main concern of every citizen across the globe and we could see some insane rise in petrol prices or say it has busted to the record high in most countries due to increase in crude oil barrels.

Brent crude oil futures were up 93 cents, or 1.1%, to $85.79 a barrel by 1100 GMT, after hitting $86.04, their highest level since October 2018. US West Texas Intermediate (WTI) crude futures climbed $1.35, or 1.6%, to $83.63 a barrel, after hitting $83.73, their highest since October 2014.

The only one safe from these cricis are the oil producing countries like Saudi Arabia and some other oil producing nations rest all are hit very hard from these financial burden.Here is an image for petrol prices globally and you will find Hong Kong on the top of it with average price per litre above $2.5 which is insane as at this rate $30 will fill half tanks only.



Crude oil prices historical data

The government is imposing further heavy tax on the products which in the last the common man is paying the cost for them.The main problem is not rising prices or inflation but have salaries been readjusting at the same rate or is revenue being generated at the same pace? The simple answer is No so that's why it is big problem for all of us.

This is another chart depicting the changes in petrol prices for over two decades.



The rate has been doubled in all these years and how could the economy will be improved at the same rate if people's savings will be spend on these essential commodities at such an increasing pace? But still there is no answer for these and these problems are not going to resolve easily and the money printing is not at all best possible solution.

[Ultegra134]

Due to the pandemic, fuel prices have recently dropped to a minimum, and now, for the same reason, they have skyrocketed again. I don't see much logic.

Fuel was pretty low before COVID came along if I'm not mistaken, or at least gasoline was nowhere near as expensive as it is right now.  At my local gas station, the price is $3.56/gallon and I haven't seen it that high in a long time.  As far as there being logic to it, I'm not sure that's always involved in determining what a barrel of oil goes for--and the same goes for stocks, crypto, and nearly every asset class for which there's a market.  There could be politics involved, it could be the effect of inflation, it could be anything that's driving prices up.

But I think the most likely explanation is, in fact, inflation.  I'm seeing it everywhere, so why should oil/gas prices be exempt from it?  I'm hoping we don't see gas prices near $5/gallon like we did in the 2000s.  That was pretty rough, but that was before 2008 when (I think) the recession started after the housing market crashed and the banking crisis happened.

Fuel prices had crashed during the pandemic and when most quarantine measures had taken place. I don't recall seeing fuel prices that low, at least for the past few years. Fuel prices were never considered low here in Greece, especially during the summer season, due to increased demand. However, such prices haven't been seen since the 2012 crisis.

On the other hand, I'd want to believe that this situation won't go on forever, and will slowly subside with time.

[Stedsm]

Fuel prices have skyrocketed in the past few months, on a worldwide scale. Here in Greece, the average price per liter for 95 Unleaded petrol is €1.75, while for diesel it's approximately €1.45. A huge surge is also expected, in the soon-to-be launched season of heating gas oil, which is expected to start within the next few weeks, with a rumored price of at least €1.10/liter.

I've read that this spike in prices is triggered by an increase in price per barrel, due to oil companies worrying about the pandemic, while their production is limited compared to the higher demand. Have you heard anything relative? What's causing this surge in prices, could it be a one-off thing which lasts a couple of months at most?

This issue isn't going to be resolved anytime soon because governments have given full control to oil companies to decide the prices as well as they also add additional VATs and taxes which are killing the hopes of a common man regarding any nearing signs towards fall in petrol and diesel prices.

What's the average cost of petrol/diesel in your country? Share your thoughts on what exactly is causing this crisis, which is also spiking electricity costs up, increasing the budget for the average household.

We pay around Rs.108 ($1.46) per liter for petrol and Rs.98/Ltr. ($1.32) for diesel. Electricity prices are increasing due to the mass adoption of electric vehicles that are replacing petrol and diesel oriented vehicles, but due to this, we are going to see a huge boost in the price of electricity too as when we pay Rs.20 per 20 liter bottle of R.O. purified water and the same is paid for a 1 liter Bisleri water bottle with added minerals, then I don't think they will leave electricity behind and will even slap huge bills on our face on the name of "loss recovery that are caused due to pandemic".

[TheGreatPython]

The rising inflation has hit everything hard and the petrol price crisis is the main concern of every citizen across the globe and we could see some insane rise in petrol prices or say it has busted to the record high in most countries due to increase in crude oil barrels.

As long as governments keep on printing more and more money, prices will keep on going up as well. This is not just for fuel, but for everything else. Sure there is a big competition in some prices and that is why prices do not spike too much in small stuff, you may buy milk or bread or egg for similar prices but other stuff, big price stuff keep on going up way too much. Look at house prices, look at car prices, look at education prices, look at healthcare prices. These are all expensive stuff that got even worse. This is why I believe that we should not be focusing on just small items to determine inflation, it doesn't give the full picture.